Solana and Cardano: Cardano puts pressure on 0.2600
The price of Solana continues with bearish consolidation, forming a new low at the 20.31 level.
Cardano’s price continues to slide after yesterday’s attempt to trigger a bullish option.
Solana chart analysis
The price of Solana continues with bearish consolidation, forming a new low at the 20.31 level. After that drop, the price returned to the previous movement zone around the 21.50 level, and from that level, a new pullback to the 21.00 level began. Again, we are leaning toward the bearish side and could test the previous low. Potential lower targets are 20.00 and 19.50 levels.
We need a positive consolidation and a move to the 21.50 level for a bullish option. Then, it is necessary to keep up there and to start further recovery and growth with a new impulse. Potential higher targets are 22.00 and 22.50 levels. We will have additional pressure on the bullish option in the EMA50 moving average in the 22.00-22.50 zone.
Cardano chart analysis
Cardano’s price continues to slide after yesterday’s attempt to trigger a bullish option. Yesterday’s high was stopped at the 0.270 level, from which we started a new pullback, going down below the 0.260 level today. A breakout below is expected and could happen soon with the formation of today’s new low. Potential lower targets are the 0.255 and 0.250 levels. We are still looking towards last week’s low at the 0.239 level.
We need positive consolidation and a return to yesterday’s high at the 0.270 level for a bullish option. After that, we need a break above and to hold above it. Additional pressure in that zone could create an EMA50 moving average for us. Potential higher targets are 0.2750 and 0.280 levels.
The post Solana and Cardano: Cardano puts pressure on 0.2600 appeared first on FinanceBrokerage.
